Account Recovery

FEBRUARY 18, 2025

Michael has spent over 20 years in executive and leadership positions within the financial services industry. RMAI also prioritizes education and has scheduled a CLE webinar series for 2025, providing value and support for members. He is the Chief Operations Officer for Velocity Portfolio Group, Inc.

Collection Agencies 130

Collection Agencies Collections Agency Law Firms Original Creditor 130

Account Recovery

JUNE 12, 2023

A healthcare provider called out for withholding care from patients who have unpaid medical debts has suspended its policy, saying that it will “carefully study additional ways to educate our teams about the extensive financial services available to patients experiencing financial barriers to care.”

Healthcare 130

Healthcare Education Financial services 130

Troutman Sanders

JANUARY 9, 2024

On December 27, 2023, the FDIC released its proposed revisions to the reporting forms and instructions for the call reports and the FFIEC 002 to the reporting on (1) loans to nondepository financial instructions and other loans, (2) guaranteed structured financial products, and (3) proposed long-term debt requirements.

Financial services 52

Financial services Student loans Student Loans Debt collector 52

Consumer Finance

APRIL 24, 2023

Director Chopra delivered remarks at the April 25, 2023, meeting of the Financial Literacy and Education Commission.

Education 61

Education Financial services Banks 61

Troutman Sanders

OCTOBER 30, 2023

On October 26, a House Financial Services subcommittee drafted legislative proposals related to the buy now, pay later (BNPL) and earned wage access (EWA) market. financial institutions. For more information, click here. For more information, click here. The letter asks the GAO to examine the role U.S.

Financial services 52

Financial services Financial Institution Trade Banks 52

Troutman Sanders

NOVEMBER 13, 2023

On November 9, the Department of Education (DOE) announced its plan to implement an oversight strategy of federal student loan servicers that provides several pathways for identifying problems that can harm borrowers, in real-time. For more information, click here.

Financial services 52

Financial services Manufacturing Debt Management Debtor 52

Troutman Sanders

OCTOBER 16, 2023

The department made changes to the original proposed rules and modified the text twice to ensure the regulations were consistent with servicers’ operations and businesses. The rules also include servicers of these products subject to the act and licensure.

Financial services 52

Financial services Student loans Student Loans Credit Unions 52

Troutman Sanders

MAY 31, 2022

On May 24, the CFPB announced that it will open the Office of Competition and Innovation as part of a new approach to help spur innovation in financial services by promoting competition and identifying stumbling blocks for new market entrants. For more information, click here.

Financial services 52

Financial services Education Creditors Collection Agencies 52

Troutman Sanders

SEPTEMBER 18, 2023

On September 14, the CFPB released a report on Tuition Payment Plans in Higher Education. Ninety-eight percent of colleges now allow students to pay for their education in installments using tuition payment plans. For more information, click here. A discussion of the first injunction issued by a Texas federal court can be found here.)

Financial services 52

Financial services Trade Banks Credit Unions 52

Troutman Sanders

MAY 23, 2023

On May 18, the House Financial Services Committee Subcommittee on Digital Assets, Financial Technology, and Inclusion hosted a hearing, titled “‘Stable’ in ‘Stablecoins’: How Legislation Will Help Stablecoins Achieve Their Promise.” administrative penalty for operating as an unlicensed student loan servicer.

Financial services 52

Financial services Banks Debtor Education 52

Troutman Sanders

DECEMBER 12, 2022

Department of Education issued a letter, informing guaranty agencies of their obligations regarding the Federal Family Education Loan (FFEL) Program for loans in default according to the Fresh Start Initiative. Notably, one of the questions probes whether Silvergate’s AML compliance program has ever undergone an independent audit.

Financial services 52

Financial services Financial Institution Banks Lender 52

Troutman Sanders

FEBRUARY 27, 2023

Department of Education (ED) released an announcement about updates that postsecondary institutions must make to their cybersecurity and data protection policies in order to comply with the Federal Trade Commission’s amended Standards for Safeguarding Customer Information (Safeguards Rule), a component of the Gramm-Leach-Bliley Act (GLBA).

Education 52

Education Financial Institution Financial services Trade 52

Troutman Sanders

MAY 9, 2023

Among other things, Moody underscored the (1) Senior Protection Team – an intra-agency group of experts who work together to fight fraud and assist seniors; (2) Seniors vs. Crime Program – a program that uses volunteer retired citizens to educate Floridians on consumer fraud and to assist in select consumer investigations; and (3) Scams at Glance Program (..)

Financial services 52

Financial services Student loans Student Loans Loans 52

Troutman Sanders

SEPTEMBER 27, 2022

Hochul noted that “this legislation acknowledges the significant contributions of our public servants, first responders, educators, and more, by helping unlock federal loan forgiveness for countless members of New York’s workforce.” An estimated 2.7 million people currently serve New York’s public or nonprofit sectors.

Financial services 52

Financial services Loans Trade Student loans 52

Troutman Sanders

AUGUST 1, 2023

On July 27, the Financial Innovation and Technology for the 21st Century Act passed the House Committee on Agriculture. The bill previously passed the House Committee on Financial Services on July 26. For more information, click here.

Financial services 52

Financial services Financial Institution Debt collector Trade 52

Fico Collections

JULY 15, 2021

But thanks to nonprofit organizations like Operation HOPE — which collaborates with financial institutions, corporations, municipal agencies, and community organizations to help low- and mid-income Americans achieve financial independence — credit education is available more widely than ever before. Financial Literacy for All.

Credit Counselor 98

Credit Counselor Education Financial Institution Financial services 98

True Accord

JANUARY 21, 2025

CFPB Looks at Medical Debt, Student Loans and So Much Data Medical debt wasnt the only focus for the Consumer Financial Protection Bureau in Q4. and was broad-based across income and education groups. Additionally, the average perceived probability of missing a minimum debt payment over the next three months increased to 14.2%

Student loans 104

Student loans Student Loans Credit Card Debt Financial Institution 104

Troutman Sanders

MARCH 28, 2023

Court of Appeals for the Second Circuit held that the Consumer Financial Protection Bureau’s (CFPB) funding structure is constitutional — splitting from the U.S. Court of Appeals for the Fifth Circuit’s decision in Community Financial Services Association of America v. For more information, click here. On March 23, the U.S.

Financial services 52

Financial services Student loans Student Loans Financial Institution 52

Troutman Sanders

OCTOBER 19, 2021

To help you keep abreast of relevant activities, below find a breakdown of some of the biggest COVID-19 driven events at the federal and state levels to impact the Consumer Finance Services industry this past week: Federal Activities. State Activities. Privacy and Cybersecurity Activities. For more information, click here.

Financial services 52

Financial services Student loans Student Loans Debt collector 52

Nexa Collect

DECEMBER 17, 2020

Credit Unions must (seriously) reinvent their brand for millennials to compete for account deposits and financial services. Their attitude stems from confidence, ample education and a disillusionment with the society their parents helped create. They value meaningful motivation, are free-thinking and creative.

Credit Unions 130

Credit Unions Credit Unions Financial Institution Financial services 130

Troutman Sanders

DECEMBER 21, 2021

Virginia Foxx and Julia Letlow, who are both members of the Committee on Education and Labor, requested an examination of the U.S. Department of Education’s decision to terminate its federal student loan contracts with private collection agencies. For more information, click here. On December 16, U.S. For more information, click here.

Financial services 52

Financial services Credit Unions Credit Unions Third-party Debt Collectors 52

Troutman Sanders

APRIL 26, 2021

House of Representatives passed seven bipartisan bills introduced by House Financial Services Committee members. This bill would allow both borrowers to submit a joint application to the Department of Education to split their joint consolidated loan into two separate federal direct loans. For more information, click here.

Financial services 52

Financial services Debt collector Loans Banks 52

Troutman Sanders

MAY 23, 2022

digital asset businesses, comparisons to traditional financial services and financial inclusion considerations, as well as technological considerations. For more information, click here. For more information, click here.

Financial services 52

Financial services Trade Government Collection Agencies 52

Troutman Sanders

OCTOBER 17, 2022

The report raises questions about whether some marketing deals between colleges and financial institutions comply with Department of Education rules.

Financial services 52

Financial services Banks Education Student loans 52

Troutman Sanders

JUNE 21, 2023

million to consumers harmed by Arete Financial Group, a student loan debt relief operation that tricked consumers into making illegal upfront payments by pretending to be affiliated with the U.S. Department of Education and falsely promising student loan debt relief. For more information, click here.

Financial services 52

Financial services Collection Agencies Collections Agency Trade 52

Troutman Sanders

OCTOBER 11, 2021

To help you keep abreast of relevant activities, below find a breakdown of some of the biggest COVID-19 driven events at the federal and state levels to impact the Consumer Finance Services industry this past week: Federal Activities. State Activities. Privacy and Cybersecurity Activities. Federal Activities: On October 8, the U.S.

Financial services 52

Financial services Loans Lender Foreclosure 52

Nerd Wallet

MARCH 3, 2022

The investing information provided on this page is for educational purposes only. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments. Banks, brokerages.

Education 88

Education Financial services Banks 88

Troutman Sanders

APRIL 25, 2022

Federal Activities: On April 18, the Consumer Financial Protection Bureau (CFPB or Bureau) published a blog post , scrutinizing the practice of withholding transcripts from students with delinquent accounts and who are attending an institute of higher education. For more information, click here.

Financial services 52

Financial services Student loans Student Loans Education 52

Troutman Sanders

FEBRUARY 23, 2022

Department of Education forgiving $71.7 Department of Education announced that it will suspend the seizure of tax refunds, Social Security payments, and other government payments to collect on defaulted student loans through November. For more information, click here. For more information, click here. For more information, click here.

Financial services 52

Financial services Student loans Student Loans Government 52

Troutman Sanders

AUGUST 30, 2021

Department of Education (DOE) announced it will make $1.1 This guide serves as a resource for community banks when performing due diligence on prospective relationships with fintech companies. For more information, click here. On August 26, the U.S.

Financial services 52

Financial services Student loans Student Loans Foreclosure 52

Troutman Sanders

AUGUST 7, 2023

According to the press release, the collaboration “will increase education, outreach, and efforts to combat racial appraisal bias in property valuation.” For more information, click here.

Financial services 52

Financial services Financial Institution Manufacturing Loans 52

Troutman Sanders

OCTOBER 25, 2021

On October 18, the Department of Education announced that it would consider proposals that give borrowers flexibility when the moratorium on student loan payments ends on January 31, 2022. On October 18, the CFPB released a Spanish-language translation of its model validation notice, which collectors can choose to use if they elect to do so.

Financial services 52

Financial services Banks Student loans Student Loans 52

Troutman Sanders

DECEMBER 7, 2021

On November 29, the CFPB issued a new advisory for financial institutionsto help prevent elder financial exploitation with alerts to trust contacts. The advisory provides information about developing relevant policies and procedures; educating account holders; and training and supporting staff. For more information, click here.

Financial services 52

Financial services Debt collector Consumer Credit Credit Card Debt 52

Troutman Sanders

SEPTEMBER 27, 2021

House of Representatives Committee on Rules passed amendments on credit reporting and medical debt collection for service members and private student loans. For more information, click here.

Financial services 52

Financial services Student loans Student Loans Foreclosure 52

Troutman Sanders

MARCH 22, 2021

Department of Education announced that about 72,000 student loan borrowers, who were defrauded by their schools, will receive student loan forgiveness that could total $1 billion. For more information, click here. On March 18, the U.S.

Financial services 52

Financial services Garnishment Student loans Student Loans 52

CSA

JANUARY 8, 2021

Job Description Post: Independent Non-Executive Director (Specialism in Further Education and Apprenticeships). This individual will become a Director of both Credit Services Association Limited and CSA (Services) Ltd and will serve on both Boards. Experience within financial services or compliance. Remuneration:

Education 40

Education Financial services Government Trade 40

Collection Industry News

SEPTEMBER 12, 2022

The partnership will seek further success within the California higher education sector by directly supporting students, employees, alumni and retirees of UC San Diego through community-oriented financial services and access to the full-range of benefits provided to all members of UCU. “As LOS ANGELES, Sept.

Credit Unions 40

Credit Unions Credit Unions Education Financial Institution 40